New head of Cardo Rail business area

New head of Cardo Rail business area Ingar Jensen has been appointed new head of Cardo's Rail business area and a member of Cardo's group management team. He succeeds Alf Göransson, who will be leaving Cardo Rail at midyear to take up the post of president and CEO of Svedala Industri AB. Ingar Jensen will be taking up his position no later than September 1. In the meantime, Cardo's CEO Kjell Svensson will hold the post of head of Cardo Rail with Ulrich Giesen as chief operating officer. Ingar Jensen, who was born in 1955, holds an MBA and comes from a position as head of the Kamewa Division of the Vickers group in the UK. In 1999, Kamewa had a turnover of SEK 3.5 billion and employed approximately 1,500 people. Cardo Rail is a business area in the Cardo group and one of the world's largest manufacturers of brake systems and brake components for rail vehicles. Its turnover amounts to approximately SEK 2.5 billion and it has about 2,000 employees. Marketing is mainly conducted under the SAB WABCO trademark. Malmö, Sweden, June 9 2000 Cardo AB (publ) For further information, please contact: Kjell Svensson, President and CEO, phone +46 40 35 04 53, +46 40 35 04 00 Sven-Erik Persson, Executive Vice President, phone +46 40 35 04 50, +46 40 35 04 00 Christer Roskvist, Head of Public Relations, phone +46 40 35 04 25, +46 40 35 04 00 Cardo is an international engineering group with a turnover of SEK 9.5 billion in 1999. Cardo holds a strong position in the markets for doors, pumps and rail-vehicle brake systems. Cardo has subsidiaries in about 30 countries with the focal point resting in western Europe, and roughly 7,700 employees. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/09/20000609BIT00100/bit0001.doc http://www.bit.se/bitonline/2000/06/09/20000609BIT00100/bit0002.pdf